I was re/searching property management companies for my first-ever rental property. I wanted something local but also an agency that had longevity and, of course, good reputation/reviews. I recognized early that given the sheer impossibility of satisfying all tenants, or owners, no property mgmt company is going to have higher than a 4-star average. And then I came across R.A. with a solid 4+ star average. As I read through dozens and dozens of reviews (here and other platforms), there were a couple of managers themselves who stood out. One was Laina (who turns out to be a supervisor) and the other was Irene.
My first inquiries (whether to retain them, what I need to know to be a good LL, and what to watch out for) were directed to Laina as I was preliminarily curious about their management style, prerequisites, and costs. I was especially concerned about the tenant vetting and application process. Laina was extraordinary - always easy to reach and never rushed me in my relentlessly probing questions. I was impressed by the guarantees and the no-commitment promise that RA stands by as well (that's confidence!). Once I had finally settled on RA to manage the house I had purchased I was fortunate to be assigned to Irene. She is meticulous, punctual, responsive, demanding, patient, persistent, and somehow still manages to accomplish all that with good nature. I wouldn't want anyone possessing less than every one of those standards to be responsible for supervising my home. She is also accessible by direct texting and email and has always responded within hours if not minutes. When I thought my house was ready to be listed Irene stopped by to lend her critical eye. I kid you not, she found 15-18 things that needed fixing, cleaning, removing, painting, or installing. And fair warning, many of those issues are deal-breakers for RA (refusing to publish my rental until they were fixed). However, their high operational standards translate into presentability. It took me, plus a hired handyman, almost 2 weeks working every evening and wknd to get the entire list finished... and it made a world of difference. It's remarkable what "you can live with" vs what is appropriately marketable.
R.A. was running a summer retainer special of $599 that included all of the above and also professional photos for the listing - on par with the industry. The $99 flat fee/month for management was another selling point. There are a couple of companies that will manage for slightly less (e.g., $75/mo) and a couple that charge a flat 10% per month no matter how high the rental price is (which is ab$urd). RA's costs include two random inspections/year, the dreaded eviction scenario, and it places them between you and the tenant as the primary contact for all things - from complaints, to rent, to repairs. Once you've hired RA, you'll get a monthly newsletter and occasional articles about being a "landlord" and about market conditions in your metro area. They are loaded with helpful tidbits and illuminating graphics. Note: rent is typically due from the tenants on the first of the month but the transfer to your bank account will occur on the 10th or 11th of the month so digure how to float your mrtg payments accordingly. There is a bricks/mortar location just north of Campbell/Ft. Lowell and that was also important to me - to lend legitimacy to the company. It is modest, with basically a front desk and small office but it's staffed by a receptionist M-F from whom you can get sample documents and preliminary questions answered too. At the end of the day, property management is 30% fees/costs and 70% skilled diplomacy -- between owner/Mgmt and between tenant/Mgmt. You need to have those relationships working smoothly, precisely because of the inherent friction points that they so easily generate. In Laina and Irene RA's mgmt team does a tremendous job navigating each. read more
